Friday, May 23, 2025
78.3 F
Roseville

Outlook for First Time Home Buyers

Local Real Estate Watch: First Time Home Buyers

Roseville, Calif. – The shortage of houses on the market and the increasing prices are not good for first time home buyers.  In January of this year, the share of first time home buyers dropped to less than 30 percent of all existing home sales.  This is down from 33 percent for the same month last year.

First time home buyers typically have a smaller budget and they are looking for homes in the lower price a range which is where the lack of listings is the harshest.  Demand is not the issue, there are plenty of first time buyers, but they can’t find a home on the market which fits their needs and, if they do, the competition from other buyers is high.  This past weekend we wrote an offer for a first time buyer on a cute cottage in Elk Grove.  Our client is financially stronger than many first time buyers and was able to offer the sellers $10,000 more than their asking price.  The sellers had six offers and ours did not even get a counter.  If the shortage continues, this is not going to be a good spring market.

- Advertisement -

2025 Placer County Fair in Roseville!

Placer County Fair

In January, homes selling for $250,000 or less fell 15.5 percent from a year ago while the biggest gain was in homes selling for more than $500,000 which increased by 25 percent.   Existing home prices were up in every major region. The West had the most expensive homes at a median of $362,600 in January, an 8.8 percent increase from over a year ago. The Northeast’s median prices reached $269,100 in January, up 6.8 percent annually. The South’s median home price of $208,200 is up 4.3 percent from a year ago, while the Midwest’s $188,000 median price is up by 8.7 percent.

You don’t have to consult an expert to see it is clear many of our housing markets are becoming less affordable and we need to see supply move closer to demand to reduce the upward pressure on home prices.

- Advertisement -

2025 Placer County Fair in Roseville!

Placer County Fair


In Roseville starting June 26th!

Support local sports!

Trending

Folsom Police Chief Rick Hillman to retire in June

Folsom, Calif. - Folsom Police Chief Rick Hillman has announced his retirement following nearly four decades in law enforcement, including 30 years with the Folsom Police Department and the last seven serving as Police Chief.

Placer County Fair Rib Cook-Off June 29 in Roseville: Mouth-watering experience

Roseville, Calif- The 5th Annual Placer County Fair Rib Cook-Off, home of the original rib passport happens June 29th in Roseville at this year's Placer County Fair. The stuff of legend, this is your chance

Wanted: Placer County Fair vendors, sponsors, and volunteers

Roseville, Calif. - Artists, bakers and entrepreneurs get ready, the Placer County Fair is just a few months away and looking for you

87th Annual Placer County Fair starts June 26th in Roseville

Roseville, Calif. - More and new heart-racing carnival rides and games, a better-than-ever entertainment lineup, deep-fried food favorites, the popular livestock area and auction, Blue Ribbon-winning exhibits, the return of the adorable All-Alaskan racing pigs, and wine tasting are all part of the 87th annual Placer County Fair.

Paper Source in Roseville

Visit our Paper Source Roseville, CA store for stationery, greeting cards, gifts and more. Browse upcoming events & find directions to your local store.

Topics

Folsom Police Chief Rick Hillman to retire in June

Folsom, Calif. - Folsom Police Chief Rick Hillman has announced his retirement following nearly four decades in law enforcement, including 30 years with the Folsom Police Department and the last seven serving as Police Chief.

Placer County Fair Rib Cook-Off June 29 in Roseville: Mouth-watering experience

Roseville, Calif- The 5th Annual Placer County Fair Rib Cook-Off, home of the original rib passport happens June 29th in Roseville at this year's Placer County Fair. The stuff of legend, this is your chance

Wanted: Placer County Fair vendors, sponsors, and volunteers

Roseville, Calif. - Artists, bakers and entrepreneurs get ready, the Placer County Fair is just a few months away and looking for you

87th Annual Placer County Fair starts June 26th in Roseville

Roseville, Calif. - More and new heart-racing carnival rides and games, a better-than-ever entertainment lineup, deep-fried food favorites, the popular livestock area and auction, Blue Ribbon-winning exhibits, the return of the adorable All-Alaskan racing pigs, and wine tasting are all part of the 87th annual Placer County Fair.

Paper Source in Roseville

Visit our Paper Source Roseville, CA store for stationery, greeting cards, gifts and more. Browse upcoming events & find directions to your local store.

Opera House Saloon in Roseville

The Opera House Saloon is the largest and classiest nightclub in Placer County. We offer Rock and Roll, Country and Line Dancing.

Ben Bridge Jeweler in Roseville

Ben Bridge Jeweler offers a large collection of high-quality jewelry from engagement rings and diamond earrings & necklaces, to bracelets and watches.

Stand Up Placer names Gary McDonald as Executive Director

Roseville, Calif. - The Board of Directors of Stand Up Placer is proud to announce the appointment of Gary McDonald as Executive Director, effective May 19, 2025.

Related Articles

Local Spotlight

Stanford Ranch Family Dentistry in Rocklin serving the local community since 2000

Rocklin, Calif.- For nearly 25 years, Jason and Heather have grown their successful Stanford Ranch Family Dentistry practice by faithfully serving patients throughout the Rocklin, Roseville, and greater South Placer County region. Their business has grown to now employ over a dozen employees which helps them meet the growing demands of a successful local business.

Sacramento Naturopathic Medical Center emphasizes the use of prevention and natural therapeutics

Sacramento Naturopathic Medical Center is a professional primary care natural medicine committed to helping all people reach their full potential – mind, body and spirit.

California Fence and Patio serving Placer County for over 30 years

Loomis, Calif. - California Fence & Patio is proud of their reputation as the premier fencing and patio cover contractor in the Roseville,, Sacramento and Placer County region.